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Eagle County property values stable

Vail Daily staff report
Eagle County, CO Colorado

EAGLE COUNTY, Colorado ” Local property owners will learn the worth of their properties when valuation notices are sent May 1 by the Eagle County Assessor’s Office.

Counties throughout the state are required to conduct a complete reassessment of all property every two years. Under Colorado law, property valuations must reflect the real estate market activity from Jan. 1, 2007 to June 30, 2008.

In most cases property values have increased or remained constant, Eagle County Assessor Mark Chapin says.



“The perception of property owners may be their value has dropped, but this just isn’t the case,” Chapin says. “By state law, values were determined during a time period before the county really started to feel the economic downturn.”

Valuations will be used to determine 2009 and 2010 property taxes, payable in 2010 and 2011.

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To derive the property tax, the actual value of the property is multiplied by the assessment rate set yearly by the state. For 2009, the rate is 7.96 percent for residential properties and 29 percent for most other properties.

The result is then multiplied by the total mill levy specific to each property. To determine your mill levy, visit http://www.eaglecounty.us/assessor.

Property owners who believe their 2009 property value is not supported by the real estate market from Jan. 1, 2007 to June 30, 2008, or whose property’s characteristics are not listed correctly, can appeal their valuation through June 1.



Appeal in person at the Assessor’s Office at the Eagle County Building at 500 Broadway in Eagle, or in writing via mail to P.O. Box 449, Eagle, CO 81631, or by fax to 970-328-8679, or by e-mail to assessor@eaglecounty.us. If appealing in writing, be sure to identify the property and provide reasons for the appeal.

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